It does say in there that Microsoft are planning to fix this issue but no other word as yet to when. The best solution is probably allow you to create a new channel with the same name but prompt to warn you that you are overwriting compliance information and then give you the option to continue with the overwrite or not.

So, be careful when you delete a Microsoft Team’s channel as you can’t simply recreate it with the same name. A better option would appear to be to edit the Team and change what’s there.